Business plan templates are a dime a dozen. You
can find hundreds of guides and models to follow online. So, why is it still so
hard for startups to develop a successful business plan?
The problem is that the majority of business plan
templates found online are designed for traditional companies. As a lean
startup, a lot of the sections in these plans aren’t going to fit your company.
And, trying to squeeze information into sections
just to appease the template you’re using will result in a low-quality business
plan.
How do startups write an effective business plan
when traditional templates don’t work? It’s time to find out. And here you have
little bit idea about cross marketing.
Ditch The Templates, Mostly
The trap that a lot of new company owners fall
into when devising their business plan is thinking that the structure of that
plan is set in stone. It’s not. You can (and should) make your business plan
your own.
You can use a template to give you an idea of
what sort of information and structure are expected of your plan, but don’t be
afraid to color outside the lines. You can move, add and remove sections as you
feel fits your company the best.
Worry Less About Length
A traditional business plan can be over 10 pages
long, more if you include charts and projections. Most lean startups won’t come
close to this mark for a variety of reasons.
●
Your business is just beginning,
which means you don’t have a lot of data on finances, market share,
projections, etc.
●
Your business is rapidly
developing and subject to change quickly and often
●
The scope of your startup business is simple and you don’t
need a lot of information to describe it.
It’s okay if your business plan is only a couple
of pages long. In some cases, being able to quickly explain your business is
more valuable than putting it all on the table.
What To Include
With the overview out of the way, it is time to
focus on some of the suggested details and sections of your startup business
plan.
Value Proposition
Every business plan, traditional or startup,
needs a value proposition. This is where you share the unique edge that your
company has that no one else offers.
Partnerships
What outside companies are you partnering with?
This includes your suppliers, software providers, manufacturers, distributors,
etc.
Activities
Much of your business plan describes the company
itself and what you’ll do. Here you want to describe how you’ll get that done.
This is where you include all of the things that will separate you from the
competition, such as creative marketing campaigns, innovative sales channels,
etc.
Resources
What resources do you have to help your business
and add value to the customer experience? Important resources could be your
staff, software and technology solutions, intellectual properties and so on.
Audience
Who will your company serve? Be specific about
your audience and the various segments that your company will conduct business
with. You want to have a clear and specific idea of what type of person will
benefit most from your products or services. This ideal audience should be
backed with market research.
Communication
When you begin to acquire customers, how will you
cultivate those relationships? What communication channels will you use to
interact with customers? And, how will these interactions take place? Your
business may be conducted strictly online rather than in person. Or, it could
mix both.
Costs
Naturally, you need to include some financial
information. This is what investors or potential partners use to measure the
value of your business. First, discuss your operational costs, if any. How much
money do you need to stay in business?
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